Manufacturing Recovery Continues in Canada

(CBC News)

Canada’s goods makers helped push the economy forward in March, according to new figures released by Statistics Canada Thursday. The indicator index rose one% in March compared to February, mainly because of a rise of 3.2% in new orders for manufactured goods, said Statistics Canada.

“The composite leading index [matched] its average monthly increase since July 2009. However, the sources of growth continued to shift away from housing to other sectors of consumer demand and manufacturing,” the statistical agency said in a news release.

Monthly new orders for Canadian goods have risen by 25% since October 2009. Furniture and appliance sales, up 1.3%, also helped drive the index higher in the third month of 2010, a showing that represented the largest gain since June 2006, the agency said.

By contrast, Canada’s housing sector has begun to cool somewhat. Statistics Canada’s monthly measure for the industry inched higher by 0.2%. That showing was the smallest improvement since the economic recovery began in the spring of 2009. At its peak, Statistics Canada said, housing sector conditions improved by five per cent per month.

Summary statistics and a link to the data file are on the Statistics Canada website here.